CNL - Control Instruments Group Limited - Trading statement
CNL
CNL
CNL - Control Instruments Group Limited - Trading statement
Control Instruments Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1964/003987/06)
Share code: CNL
ISIN code: ZAE000001665
("Control Instruments" or "the Group" or "the Company")
TRADING STATEMENT
In terms of the JSE Limited Listings Requirements, companies are required to
publish a trading statement as soon as they are reasonably certain that their
financial results for the current reporting period will differ from the previous
corresponding period by more than 20%.
The Group`s results for the six months ended 30 June 2009 compared with the same
period in 2008 are expected to show a reduction in loss per share. This loss is
expected to reduce between 55% and 65% compared with the loss per share of 23.2
cents per share for the comparative period in 2008.
The reduction in the Group`s headline loss per share is expected to be less than
10% compared with the headline loss per share of 9.4 cents for the comparative
period in 2008.
Conditions in the first quarter of 2009 were extremely tough. However it appears
that the worst is behind us. The sectors of the automotive industry in which the
Group`s subsidiaries operate are stabilising. Trading conditions improved in the
second quarter of 2009 and current indications are that they are continuing to
do so.
The Group`s aftermarket business is returning to more normal levels of operation
and the OEM sector is showing the first signs of an upturn. Initial orders for
Pi Shurlok`s OpenECU products are ahead of expectations.
The Group started to consistently generate cash during the second quarter and
this is expected to continue for the remainder of the year (subject to no
unexpected adverse conditions).
Shareholders are advised that this information has not been reviewed or reported
on by the Company`s external auditors. Control Instruments` results for the six
months ended 30 June 2009 are expected to be published on SENS on or about 28
August 2009.
Cape Town
20 August 2009
Sponsor:
Investec Bank Limited
Date: 20/08/2009 16:55:01 Produced by the JSE SENS Department.
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